This indicator is not build as buy or sell indicator, but more to give you a visual confluence in trading in the right direction.
oscillator helps you defining market momentum and overbought and oversold conditions.
We've put the indicator on steroids combining it with moving average Tenkan and Kijun, which you'll see in the Histrogram.
A few important rules to remember.
• Stock Ribbon Orange and rising above 50 with rising orange histogram above 50 is
• Ribbon Orange and rising above 0 with rising orange histogram below 50 is
• Ribbon Gray and falling below 50 with falling grey histogram below 50 is
• Ribbon Gray and falling above 50 with falling grey histogram above 50 is “early